RESOLUTION NO. 26-4914
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MURRIETA AUTHORIZING THE CITY’S HOUSING AUTHORITY TO ESTABLISH A REVOLVING LOAN FUND WHEREAS, the State Legislature and the Governor approved the Budget Act of 2024, which restored $560 million for the Regional Early Action Planning Grants (REAP 2.0) Program, with $480 million specifically for metropolitan planning organizations; and WHEREAS, the Southern California Association of Governments (SCAG) has received a final award allocation from the California Department of Housing and Community Development (HCD) of $231.5 million to fund competitive and formula-based grant awards as approved by the Regional Council; and WHEREAS, on November 2, 2023, the SCAG Regional Council approved grant awards of approximately $45 million to 14 organizations and jurisdictions throughout the region, including a $4.1 million award to the City of Murrieta Housing Authority (Authority) for the establishment of a revolving loan fund; and WHEREAS, the grant awards by SCAG are supportive of innovative finance strategies for projects that support existing and establish new housing trusts, land trusts, and catalyst funds; and WHEREAS, the City’s Housing Element adopted by the City Council and approved by HCD in 2023 includes Policy 1.2 to encourage the development of affordable housing in the City through the use of financial and/or regulatory incentives and Policy 1.3 to encourage the development of senior and low-income housing through the use of financial and/or regulatory incentives; and WHEREAS, the Authority has a history of providing loans to affordable housing projects, including the recent loans to National CORE of $6.14 million for phase 1 and $1.5 million for phase 2 of the Oak View Ranch Project in the City; and WHEREAS, the City Council on May 6, 2025, authorized the Housing Authority to enter into an MOU with SCAG in order to develop a Revolving Loan Fund (RLF) and directed staff to prepare the RLF program; and WHEREAS, the City Council has considered and by this Resolution desires to approve the RLF as prepared by staff, and directs staff to proceed with providing loans to eligible affordable housing projects on an ongoing basis as funds revolve; and WHEREAS, the City Council, by this Resolution, authorizes the Executive Director of the Authority to approve and execute loans under the RLF program for projects that meet the City’s Guidelines for the RLF.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Murrieta, as follows:
That the City Council finds and determines that the foregoing recitals are true and correct.
That the City Council approves the establishment of the RLF Program for the City of Murrieta Housing Authority to be managed by Authority staff and the Executive Director.
That the City Council finds, determines, and declares that the establishment of an RLF by the Authority is in conformance with the City’s adopted General Plan and more specifically the City’s Housing Element.
That the $4.1 million grant funds are to be received by the City and allocated to the Authority for the RLF, to be loaned to eligible projects in accordance with the RLF Guidelines, as approved by staff and the Executive Director.
That the Executive Director is hereby authorized to execute all documents, instruments, and agreements, for loans required by and for the implementation of the RLF on behalf of the Authority, subject to the approval as to the form by the Authority’s General Counsel.
That the Authority authorizes and directs the Executive Director, or designee, of the Authority to make any amendments, change or revisions to any document, instrument or agreement, such as a loan document, required by and for the implementation of the RLF program for the Authority on behalf of the City, as approved by the Executive Director and General Counsel, to execute any such other documents and that such other actions as are necessary or desirable and appropriate to carry out and implement this award and program and to effectuate the intent of this Resolution on behalf of the Authority including, without limitation, approving any necessary extensions of deadlines any documents (or any portion thereof) as determined necessary by the Executive Director, or designee, to effectuate the purposes of the RLF program, and to administer the City’s obligations, responsibilities, and duties to be performed under the RLF program and all documents, instruments, and agreements required by and for the implementation of the RLF program on behalf of the Authority.
PASSED, APPROVED, AND ADOPTED this 17th day of March, 2026. _____________________________
Jon Levell, Mayor
ATTEST:
_________________________________
Cristal McDonald, City Clerk
APPROVED AS TO FORM:
__________________________________
Tiffany Israel, City Attorney
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )§
CITY OF MURRIETA )
I, Cristal McDonald, City Clerk of the City of Murrieta, California, do hereby certify that the foregoing Resolution No. 26-4914 was duly passed and adopted by the City Council of the City of Murrieta at the regular meeting thereof, held on the 17th day of March, 2026, and was signed by the Mayor of the said City, and that the same was passed and adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_____________________________
Cristal McDonald, City Clerk
Resolution No. 26-4914